West Coast Paper Mills Ltd

₹ 517 -0.18%

05 Aug - close price

westcoastpaper.com BSE: 500444 NSE: WSTCSTPAPR

About

West Coast Paper Mills Ltd is one of the oldest and the largest producers of paper for printing, writing, and packaging in India. Established in 1955, the Mill is located at Dandeli in Uttara Kannada district in Karnataka. The global quality paper produced by the Company serves the needs of innumerable industries in printing, writing, publishing, stationary, notebooks and packaging sectors in India, in the process contributing to the development of the nation. ^[1]

Key Points

Business Segments
a) Paper Division (93% in H1 FY25 vs 96% in FY22) ^[1] ^[2] The company produces premium papers, writing papers, boards, office stationery, etc under the Wesco brand. The segment revenue grew 30% between FY22 and FY24, driven by a 30% rise in price realizations, while volume remained flat. ^[3] ^[4]

Website BSE NSE

Market Cap ₹ 3,415 Cr.
Current Price ₹ 517
High / Low ₹ 648 / 382
Stock P/E 11.9
Book Value ₹ 410
Dividend Yield 0.97 %
ROCE 14.1 %
ROE 11.1 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.

Cons

The company has delivered a poor sales growth of 4.84% over past five years.
Earnings include an other income of Rs.147 Cr.
Working capital days have increased from 43.8 days to 67.4 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Forest Materials Paper, Forest & Jute Products Paper & Paper Products

Part of BSE SmallCap BSE Allcap BSE Commodities

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	645	660	723	660	767	651	706	565	701	642	609	629	631
	496	464	502	438	504	414	529	458	567	501	519	575	567
Operating Profit	149	196	221	223	263	238	178	107	133	141	90	54	64
OPM %	23%	30%	31%	34%	34%	36%	25%	19%	19%	22%	15%	9%	10%
	6	3	26	8	9	14	50	18	15	17	53	54	25
Interest	15	5	5	12	7	5	4	5	5	5	4	5	6
Depreciation	35	29	30	30	30	26	27	27	30	26	27	29	30
Profit before tax	105	165	212	188	235	221	197	93	114	127	111	75	54
Tax %	22%	25%	26%	24%	29%	27%	21%	16%	28%	27%	17%	22%	23%
	82	123	156	142	166	160	156	78	82	93	92	58	41
EPS in Rs	12.46	18.68	23.59	21.49	25.14	24.30	23.56	11.75	12.48	14.10	13.93	8.81	6.27
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Upcoming result date: 11 August 2025

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,562	1,648	1,700	1,769	1,710	1,979	1,982	1,368	1,985	2,810	2,623	2,511
	1,353	1,403	1,450	1,431	1,348	1,470	1,501	1,170	1,579	1,907	1,966	2,159
Operating Profit	209	246	250	338	362	509	482	198	406	904	657	352
OPM %	13%	15%	15%	19%	21%	26%	24%	14%	20%	32%	25%	14%
	5	-49	-46	2	18	21	47	3	30	45	95	147
Interest	73	70	76	52	42	29	72	65	53	29	19	20
Depreciation	127	122	114	111	116	175	166	153	138	119	109	113
Profit before tax	14	5	14	178	223	325	290	-18	244	799	624	367
Tax %	52%	77%	103%	28%	-0%	9%	5%	-112%	11%	27%	24%	22%
	7	1	-0	128	223	296	276	2	218	587	476	285
EPS in Rs	1.00	0.17	-0.07	19.46	33.80	44.82	41.85	0.31	33.02	88.89	72.10	43.11
Dividend Payout %	100%	0%	-1,405%	13%	12%	11%	12%	322%	18%	11%	11%	12%

Compounded Sales Growth
10 Years:	4%
5 Years:	5%
3 Years:	8%
TTM:	-4%

Compounded Profit Growth
10 Years:	36%
5 Years:	1%
3 Years:	10%
TTM:	-40%

Stock Price CAGR
10 Years:	21%
5 Years:	25%
3 Years:	2%
1 Year:	-13%

Return on Equity
10 Years:	19%
5 Years:	17%
3 Years:	20%
Last Year:	11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	13	13	13	13	13	13	13	13	13	13	13	13
Reserves	583	585	503	626	826	1,090	1,282	1,285	1,494	2,037	2,467	2,692
	1,066	910	744	444	315	357	740	629	415	174	161	172
	432	417	470	448	436	455	363	367	410	453	532	553
Total Liabilities	2,094	1,925	1,731	1,531	1,590	1,915	2,398	2,295	2,332	2,677	3,173	3,429
	1,243	1,147	1,086	1,001	1,035	985	906	835	754	671	674	703
CWIP	5	2	3	6	3	37	55	25	14	25	96	139
Investments	47	47	1	1	1	223	912	912	1,001	1,335	1,629	1,626
	800	730	641	523	551	671	525	523	563	645	774	962
Total Assets	2,094	1,925	1,731	1,531	1,590	1,915	2,398	2,295	2,332	2,677	3,173	3,429

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	150	257	98	434	326	395	544	239	382	695	454	157
	-51	-22	34	-39	-139	-384	-771	-59	-88	-371	-356	-82
	-96	-230	-132	-394	-194	-16	225	-177	-299	-311	-100	-66
Net Cash Flow	3	4	-1	1	-7	-5	-1	4	-4	13	-2	9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	24	28	25	26	25	30	19	34	25	24	27	35
Inventory Days	193	179	136	101	137	158	119	122	88	95	128	132
Days Payable	102	92	72	53	81	67	29	35	39	32	31	34
Cash Conversion Cycle	114	114	89	75	82	122	108	120	74	87	124	132
Working Capital Days	-30	-39	-20	1	24	19	3	-6	4	21	43	67
ROCE %	5%	8%	10%	20%	23%	27%	21%	3%	15%	40%	26%	14%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	56.51%	56.52%	56.53%	56.53%	56.53%	56.53%	56.53%	56.53%	56.53%	56.53%	56.55%	56.55%
	3.67%	5.62%	7.04%	7.38%	7.80%	7.98%	8.19%	7.40%	6.17%	5.30%	4.20%	3.77%
	7.46%	7.60%	7.57%	7.18%	6.77%	6.62%	7.13%	7.19%	8.19%	9.35%	9.82%	11.74%
	32.34%	30.26%	28.87%	28.92%	28.90%	28.88%	28.15%	28.87%	29.12%	28.82%	29.43%	27.95%
No. of Shareholders	40,550	42,761	42,603	52,029	57,706	57,193	60,840	53,673	55,848	55,058	54,375	52,312

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	55.80%	56.04%	56.72%	56.14%	56.29%	56.48%	56.53%	56.53%	56.55%	56.55%
	3.40%	6.44%	4.91%	3.26%	2.19%	2.23%	7.04%	8.19%	4.20%	3.77%
	12.26%	10.88%	11.38%	12.89%	8.99%	8.80%	7.57%	7.13%	9.82%	11.74%
	28.54%	26.64%	27.00%	27.71%	32.53%	32.48%	28.87%	28.15%	29.43%	27.95%
No. of Shareholders	16,363	21,033	24,816	28,886	33,489	31,426	42,603	60,840	54,375	52,312

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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